Gold markets broke higher during the course of the session on Friday, heading to the $1220 level. However, there was enough resistance there to turn
Gold markets broke higher during the course of the session on Friday, heading to the $1220 level. However, there was enough resistance there to turn things back around and form a shooting star, for the third a row. Nonetheless, if we break above the top of these shooting stars, that will be an excellent buying opportunity going to the $1240 level. There is plenty of support below, and we are sitting on top of an uptrend line and a horizontal support line on the longer-term charts. We have no interest whatsoever in selling this market until we clear at least the $1180 level.
Gold Prices Forecast March 2, 2015, Technical Analysis
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
